House of Representatives Probes CBN Over Naira Scarcity
The Nigerian House of Representatives has launched an investigation into the Central Bank of Nigeria (CBN) following a widespread cash…
Category: Economy
Tax Reform Bills: Northern Leaders Not Well-Informed — Onuesoke
Chief Sunny Onuesoke, a prominent member of the Peoples Democratic Party (PDP) and former governorship candidate in Delta State, has…
Oil & Gas Industry: PENGASSAN Kicks Against Flagrant Abuse Of Expatriate Quota
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has raised concerns about the high number of expatriates…
NPA, Nigerdock finalize $1bn Snake Island Port agreement
In a significant step toward advancing green port development in Nigeria, Nigerdock and the Nigerian Ports Authority (NPA) have finalized…
Algeria, Angola Others Still Owe $1.7bn In Foreign Airlines Blocked Funds – IATA
The International Air Transport Association (IATA) has highlighted Algeria, Angola, and Eritrea as countries that still owe foreign airlines a…
Trump’s Economic Policies Pose Risks to Nigerian Banks and Investments
Donald Trump’s proposed tax reforms and tariffs, including a corporate tax cut from 21% to 15%, could disrupt Nigeria’s financial…
Total inflows into NAFEM grew to $4.05bn in November –FMD
The Nigerian Autonomous Foreign Exchange Market (NAFEM) experienced significant growth in November, with total inflows rising by 32.9% month-on-month to…
We’ve Started Seeing Positive Results From Our Reforms – Tinubu Tells IMF Chief
President Bola Tinubu has said Nigerians are now seeing the positive results of his administration’s reforms. Since he assumed office…
We strongly support Tinubu’s reforms, says IMF MD
Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), says the organisation is strongly in support of the…
Virgin Islands top court authorises Chinese investors Zhongshan to seize $25 million from Nigeria over Ogun trade zone deal
A top court in the British Virgin Islands has granted Chinese investors Zhongshan the authority to seize £20 million ($25…
Banks free to trade with deposited FX – CBN
The Central Bank of Nigeria (CBN) has released guidelines for banks to implement a new foreign exchange deposit scheme aimed…
IMF Chief Highlights Four Steps In Managing Systematic Reforms
In a recent interview, IMF’s Deputy Division Chief, Antonio David, outlined a strategic approach for African nations to mobilize resources…
Nigeria’s Fiscal Deficit Hits N4.53 Trillion in Q2 2024 as Spending Outpaces Revenue Growth
Nigeria’s fiscal deficit reached N4.53 trillion in the second quarter of 2024, up from N3.88 trillion in the first quarter,…
Naira appreciates to N1,725/$ in parallel market
The Naira saw a slight appreciation in the parallel market on Monday, rising to N1,725 per dollar from N1,735 last…
How the US Election Outcome Could Impact Nigeria
With the U.S. presidential election approaching, Nigerian analysts weigh the potential impacts of either Donald Trump or Kamala Harris administration…
Foreign Inflows Surge in Nigeria’s Forex Market Amid Currency Challenges
In a significant turnaround, the Nigerian Autonomous Foreign Exchange Market (NAFEM) has reported total inflows reaching a five-month high of…
CBN, IFC to provide $1bn funding options to Nigerian businesses
The International Finance Corporation (IFC), the private sector arm of the World Bank, has signed an agreement with the Central…
Nigeria Supports 600,000 Farmers to Combat Inflation and Boost Food Supply
The Nigerian Federal Government has announced a major initiative to support 600,000 small-scale farmers to enhance food production and curb…